Just How Much is Your Old Water Heater Costing You?
With the new standards of energy efficiency in water heaters these days, you may actually not be saving money by waiting to replace your old water heater. Old water heaters are much less energy efficient, both because they are aging and because standards were lower back then, which could mean more money you’re paying each month in energy costs compared to a newer heater. It’s generally accepted that most water heaters last an average of about 13 years. If yours is anywhere close to that, it probably uses a lot more energy than modern water heaters. Ten years ago, hot water accounted for about a quarter of the typical home’s energy use; today, with more efficient heaters, it’s only about 18 percent. Therefore, anyone with a water heater that is seven or more years old will probably save money in the long run by replacing the water heater with a newer, more efficient model. If getting a new water heater isn’t an option for you, there are other ways to make your old one more efficient and save you a little money on heating costs. Here are a few more ways you can enjoy water heating savings.
- Have heat traps installed. If it doesn’t already have them, heat traps on your tank could reduce your bill by as much as $15 to $30.
- Invest in low-flow faucets and shower heads. Anything pre-1992 lets too much water through. By having new low-flow faucets installed, you could actually save up to 60% on your water bill, in addition to the energy savings associated with using less hot water.
- Insulate, insulate, insulate. Having everything insulated, from the hot water tank itself to the pipes that carry the hot water out of the heater, can help cut costs by preserving the heat in both the tank and the pipes.